Nam Cheong sweetens terms for US$336m debt restructuring

Singapore

NAM Cheong on Tuesday publicly unveiled the revised terms for its debt restructuring, though these are still some way off from some noteholders' expectations.

The Singapore-listed offshore support vessel released its first proposed terms for the restructuring of US$336 million unsecured debt and note issuances in early September. Those terms have been improved upon and simplified in its revised proposal that was tabled with its scheme of arrangement filed with Singapore's High Court.